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Employer Identification Number 56-6046937

COLLEGE FOUNDATION, INC. is a USA domiciled entity or foreign entity operating in the USA. The EIN ihas been issued by the IRS

Company Name:COLLEGE FOUNDATION, INC.
Employer identification number (EIN):56-6046937
EIN TypeTrusts, Estates, and Non-Profit/Exempt Organizations under the Tax Equity and Fiscal Responsibility Act (TEFRA)
EIN Issuing AuthorityBrookhaven, NY
NAIC Classification:611000
401k Pension/Benefits registration COLLEGE FOUNDATION, INC. 401k plan information
Federal tax statusExempt from federal income tax. Registered as a non-profit under 501(c)(3) Title 26 of the United States Code

Organization Overview

Mission StatementOUR WORK TODAY MAKES A BETTER TOMORROW BY EMPOWERING PEOPLE TO ACHIEVE THEIR ACADEMIC GOALS. AT JUNE 30, THE FOUNDATION WAS SERVICING A LOAN PORTFOLIO VALUED AT $1,613,673,806 AND ADMINISTERING NORTH CAROLINA'S NATIONAL COLLEGE SAVINGS PROGRAM WITH A PORTFOLIO VALUED AT $2,072,517,281. DURING THE TAX YEAR, STUDENTS USED THE CFNC.ORG WEBSITE TO SUBMIT 409,966 APPLICATIONS TO NC COLLEGES, THE FOUNDATION COMPLETED 57,495 FAFSA VERIFICATIONS FOR SCHOOL FINANCIAL AID OFFICES, 85,958 STUDENTS USED THE RESIDENCY DETERMINATION SERVICE, AND THE FOUNDATION DISBURSED $254,992,983 IN STATE GRANTS.
Number of Employees213
Number of Volunteers11
Year Formed1955

Organization Governance

Legal DomicileNC
Voting Members - Governing Body9
Voting Members - Independent9

Organization Financials

2023-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 27,685,747
Program Service Revenue from current yearUSD $ 30,756,608
Investment Income from prior yearUSD $ 785,406
Investment Income from current yearUSD $ 548,063
Other Revenue from prior yearUSD $ 36,960
Other Revenue from current yearUSD $ 117,858
Gross receipts from all sourcesUSD $ 32,645,783
Net assets / fund balances at end of fiscal yearUSD $ 45,076,837
Net assets / fund balances at beginning of fiscal yearUSD $ 40,214,680
Total liabilities at end of fiscal yearUSD $ 7,424,427
Total liabilities at beginning of fiscal yearUSD $ 14,515,019
Total assets at end of fiscal yearUSD $ 52,501,264
Total assets at beginning of fiscal yearUSD $ 54,729,699
Revenues less expenses for current yearUSD $ 3,764,467
Revenues less expenses for previous yearUSD $ 689,689
Total expenses for current yearUSD $ 27,659,962
Total expenses for previous yearUSD $ 27,893,424
Other expenses in current yearUSD $ 11,251,791
Other expenses in previous yearUSD $ 12,069,497
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 16,287,581
Employee salary and benefits paid in previous yearUSD $ 15,724,673
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 120,590
Grants and similar amounts paid in previous yearUSD $ 99,254
Total revenue in current fiscal yearUSD $ 31,424,429
Total revenue in previous fiscal yearUSD $ 28,583,113
Contributions and grants from current yearUSD $ 1,900
Contributions and grants from previous yearUSD $ 75,000
Revenue from membership duesUSD $ 0
Total of other revenueUSD $ 0
2022-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 23,752,029
Program Service Revenue from current yearUSD $ 27,685,747
Investment Income from prior yearUSD $ 978,015
Investment Income from current yearUSD $ 785,406
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 36,960
Gross receipts from all sourcesUSD $ 28,691,304
Net assets / fund balances at end of fiscal yearUSD $ 40,214,680
Net assets / fund balances at beginning of fiscal yearUSD $ 43,225,622
Total liabilities at end of fiscal yearUSD $ 14,515,019
Total liabilities at beginning of fiscal yearUSD $ 9,112,664
Total assets at end of fiscal yearUSD $ 54,729,699
Total assets at beginning of fiscal yearUSD $ 52,338,286
Revenues less expenses for current yearUSD $ 689,689
Revenues less expenses for previous yearUSD $ 1,051,281
Total expenses for current yearUSD $ 27,893,424
Total expenses for previous yearUSD $ 26,815,025
Other expenses in current yearUSD $ 12,069,497
Other expenses in previous yearUSD $ 10,829,427
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 15,724,673
Employee salary and benefits paid in previous yearUSD $ 15,861,934
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 99,254
Grants and similar amounts paid in previous yearUSD $ 123,664
Total revenue in current fiscal yearUSD $ 28,583,113
Total revenue in previous fiscal yearUSD $ 27,866,306
Contributions and grants from current yearUSD $ 75,000
Contributions and grants from previous yearUSD $ 3,136,262
Gross income from fundraising eventsUSD $ 0
Cost of goods soldUSD $ 0
Revenue from membership duesUSD $ 0
Gross income from gamingUSD $ 0
Gross sales of inventory assetsUSD $ 0
Total of other revenueUSD $ 0
2021-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 27,518,173
Program Service Revenue from current yearUSD $ 23,752,029
Investment Income from prior yearUSD $ 942,285
Investment Income from current yearUSD $ 978,015
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 29,121,739
Net assets / fund balances at end of fiscal yearUSD $ 43,225,622
Net assets / fund balances at beginning of fiscal yearUSD $ 39,844,082
Total liabilities at end of fiscal yearUSD $ 9,112,664
Total liabilities at beginning of fiscal yearUSD $ 11,856,547
Total assets at end of fiscal yearUSD $ 52,338,286
Total assets at beginning of fiscal yearUSD $ 51,700,629
Revenues less expenses for current yearUSD $ 1,051,281
Revenues less expenses for previous yearUSD $ -24,453
Total expenses for current yearUSD $ 26,815,025
Total expenses for previous yearUSD $ 28,484,911
Other expenses in current yearUSD $ 10,829,427
Other expenses in previous yearUSD $ 11,686,622
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 15,861,934
Employee salary and benefits paid in previous yearUSD $ 16,706,229
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 123,664
Grants and similar amounts paid in previous yearUSD $ 92,060
Total revenue in current fiscal yearUSD $ 27,866,306
Total revenue in previous fiscal yearUSD $ 28,460,458
Contributions and grants from current yearUSD $ 3,136,262
Contributions and grants from previous yearUSD $ 0
Revenue from membership duesUSD $ 0
Total of other revenueUSD $ 0
2020-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 27,708,946
Program Service Revenue from current yearUSD $ 27,518,173
Investment Income from prior yearUSD $ 407,836
Investment Income from current yearUSD $ 942,285
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 28,460,458
Net assets / fund balances at end of fiscal yearUSD $ 39,844,082
Net assets / fund balances at beginning of fiscal yearUSD $ 39,796,649
Total liabilities at end of fiscal yearUSD $ 11,856,547
Total liabilities at beginning of fiscal yearUSD $ 11,630,961
Total assets at end of fiscal yearUSD $ 51,700,629
Total assets at beginning of fiscal yearUSD $ 51,427,610
Revenues less expenses for current yearUSD $ -24,453
Revenues less expenses for previous yearUSD $ -281,023
Total expenses for current yearUSD $ 28,484,911
Total expenses for previous yearUSD $ 28,397,805
Other expenses in current yearUSD $ 11,686,622
Other expenses in previous yearUSD $ 11,842,969
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 16,706,229
Employee salary and benefits paid in previous yearUSD $ 16,426,368
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 92,060
Grants and similar amounts paid in previous yearUSD $ 128,468
Total revenue in current fiscal yearUSD $ 28,460,458
Total revenue in previous fiscal yearUSD $ 28,116,782
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0
Total of other revenueUSD $ 0
2019-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 26,796,990
Program Service Revenue from current yearUSD $ 27,708,946
Investment Income from prior yearUSD $ 1,584,673
Investment Income from current yearUSD $ 407,836
Other Revenue from prior yearUSD $ 33,691
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 28,116,782
Net assets / fund balances at end of fiscal yearUSD $ 39,796,649
Net assets / fund balances at beginning of fiscal yearUSD $ 39,307,927
Total liabilities at end of fiscal yearUSD $ 11,630,961
Total liabilities at beginning of fiscal yearUSD $ 11,984,427
Total assets at end of fiscal yearUSD $ 51,427,610
Total assets at beginning of fiscal yearUSD $ 51,292,354
Revenues less expenses for current yearUSD $ -281,023
Revenues less expenses for previous yearUSD $ 1,243,087
Total expenses for current yearUSD $ 28,397,805
Total expenses for previous yearUSD $ 27,172,267
Other expenses in current yearUSD $ 11,842,969
Other expenses in previous yearUSD $ 11,408,868
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 16,426,368
Employee salary and benefits paid in previous yearUSD $ 15,679,954
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 128,468
Grants and similar amounts paid in previous yearUSD $ 83,445
Total revenue in current fiscal yearUSD $ 28,116,782
Total revenue in previous fiscal yearUSD $ 28,415,354
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0
Total of other revenueUSD $ 0
2018-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 632
Program Service Revenue from prior yearUSD $ 26,288,407
Program Service Revenue from current yearUSD $ 26,796,990
Investment Income from prior yearUSD $ 13,839
Investment Income from current yearUSD $ 1,584,673
Other Revenue from prior yearUSD $ 233,698
Other Revenue from current yearUSD $ 33,691
Gross receipts from all sourcesUSD $ 31,607,899
Net assets / fund balances at end of fiscal yearUSD $ 39,307,927
Net assets / fund balances at beginning of fiscal yearUSD $ 37,793,231
Total liabilities at end of fiscal yearUSD $ 11,984,427
Total liabilities at beginning of fiscal yearUSD $ 13,483,812
Total assets at end of fiscal yearUSD $ 51,292,354
Total assets at beginning of fiscal yearUSD $ 51,277,043
Revenues less expenses for current yearUSD $ 1,243,087
Revenues less expenses for previous yearUSD $ 850,490
Total expenses for current yearUSD $ 27,172,267
Total expenses for previous yearUSD $ 25,688,254
Other expenses in current yearUSD $ 11,408,868
Other expenses in previous yearUSD $ 11,441,117
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 15,679,954
Employee salary and benefits paid in previous yearUSD $ 14,175,985
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 83,445
Grants and similar amounts paid in previous yearUSD $ 71,152
Total revenue in current fiscal yearUSD $ 28,415,354
Total revenue in previous fiscal yearUSD $ 26,538,744
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 2,800
2017-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 25,343,093
Program Service Revenue from current yearUSD $ 26,288,407
Investment Income from prior yearUSD $ 12,532
Investment Income from current yearUSD $ 13,839
Other Revenue from prior yearUSD $ 192,692
Other Revenue from current yearUSD $ 233,698
Gross receipts from all sourcesUSD $ 26,777,958
Net assets / fund balances at end of fiscal yearUSD $ 37,793,231
Net assets / fund balances at beginning of fiscal yearUSD $ 36,818,360
Total liabilities at end of fiscal yearUSD $ 13,483,812
Total liabilities at beginning of fiscal yearUSD $ 14,651,042
Total assets at end of fiscal yearUSD $ 51,277,043
Total assets at beginning of fiscal yearUSD $ 51,469,402
Revenues less expenses for current yearUSD $ 850,490
Revenues less expenses for previous yearUSD $ 556,629
Total expenses for current yearUSD $ 25,688,254
Total expenses for previous yearUSD $ 24,991,688
Other expenses in current yearUSD $ 11,441,117
Other expenses in previous yearUSD $ 11,494,343
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 14,175,985
Employee salary and benefits paid in previous yearUSD $ 13,431,635
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 71,152
Grants and similar amounts paid in previous yearUSD $ 65,710
Total revenue in current fiscal yearUSD $ 26,538,744
Total revenue in previous fiscal yearUSD $ 25,548,317
Contributions and grants from current yearUSD $ 2,800
Contributions and grants from previous yearUSD $ 0
2016-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 24,626,051
Program Service Revenue from current yearUSD $ 25,343,093
Investment Income from prior yearUSD $ 6,305
Investment Income from current yearUSD $ 12,532
Other Revenue from prior yearUSD $ 154,610
Other Revenue from current yearUSD $ 192,692
Gross receipts from all sourcesUSD $ 25,821,385
Net assets / fund balances at end of fiscal yearUSD $ 36,818,360
Net assets / fund balances at beginning of fiscal yearUSD $ 36,299,504
Total liabilities at end of fiscal yearUSD $ 14,651,042
Total liabilities at beginning of fiscal yearUSD $ 12,623,468
Total assets at end of fiscal yearUSD $ 51,469,402
Total assets at beginning of fiscal yearUSD $ 48,922,972
Revenues less expenses for current yearUSD $ 556,629
Revenues less expenses for previous yearUSD $ -752,708
Total expenses for current yearUSD $ 24,991,688
Total expenses for previous yearUSD $ 25,539,674
Other expenses in current yearUSD $ 11,494,343
Other expenses in previous yearUSD $ 11,479,536
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 13,431,635
Employee salary and benefits paid in previous yearUSD $ 14,007,046
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 65,710
Grants and similar amounts paid in previous yearUSD $ 53,092
Total revenue in current fiscal yearUSD $ 25,548,317
Total revenue in previous fiscal yearUSD $ 24,786,966
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0
2015-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 29,626,476
Program Service Revenue from current yearUSD $ 24,626,051
Investment Income from prior yearUSD $ 2,846
Investment Income from current yearUSD $ 6,305
Other Revenue from prior yearUSD $ 196,784
Other Revenue from current yearUSD $ 154,610
Gross receipts from all sourcesUSD $ 25,091,359
Net assets / fund balances at end of fiscal yearUSD $ 36,299,504
Net assets / fund balances at beginning of fiscal yearUSD $ 37,191,338
Total liabilities at end of fiscal yearUSD $ 12,623,468
Total liabilities at beginning of fiscal yearUSD $ 12,308,447
Total assets at end of fiscal yearUSD $ 48,922,972
Total assets at beginning of fiscal yearUSD $ 49,499,785
Revenues less expenses for current yearUSD $ -752,708
Revenues less expenses for previous yearUSD $ -2,236,806
Total expenses for current yearUSD $ 25,539,674
Total expenses for previous yearUSD $ 32,062,912
Other expenses in current yearUSD $ 11,479,536
Other expenses in previous yearUSD $ 16,561,184
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 14,007,046
Employee salary and benefits paid in previous yearUSD $ 15,468,244
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 53,092
Grants and similar amounts paid in previous yearUSD $ 33,484
Total revenue in current fiscal yearUSD $ 24,786,966
Total revenue in previous fiscal yearUSD $ 29,826,106
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0

Organization Addresses

The following addresses have been detected as associated with Tax Indentification Number 566046937

USA Mailing Address
2917 HIGHWOODS BLVD
RALEIGH
NC
27604
Date first seen: 2007-01-01
Date last seen: 2025-11-24
USA Location Address
2917 HIGHWOODS BLVD
RALEIGH
NC
27604
Date first seen: 2007-01-01
Date last seen: 2026-01-06
USA Mailing Address
PO BOX 41966
RALEIGH
NC
276291966
Date first seen: 2014-02-12
Date last seen: 2026-01-06
USA Location Address
2917 HIGHWOODS BOULEVARD
RALEIGH
NC
276291966
Date first seen: 2021-01-05
Date last seen: 2023-04-06
USA Mailing Address
2917 HIGHWOODS BLVD
RALEIGH
NC
276041004
Date first seen: 2025-07-31
Date last seen: 2025-11-23
USA Location Address
2917 HIGHWOODS BOULEVARD
RALEIGH
NC
27604
Date first seen: 2007-01-01
Date last seen: 2025-09-17

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The following companies are located in the same ZIP code areas:

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